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Newspaper
The Indianapolis Journal
Location
Indianapolis, Indiana, United States of America
Date
May 13, 1902
Page
10
Describes a bank's functions including accepting deposits subject to draft, collecting and remitting dividends, acting as fiscal agent for corporations, negotiating railroad and other corporate securities, dealing in government bonds and other investment securities, and executing commission orders.
New York May 12 The local money market's weak tone and a coal strike in the anthracite region drove broad stock declines. Banks show heavy cash reserve drops while a large cash shipment to Philadelphia hints at bank repositioning. Foreign exchange remains firm despite the day’s sharp break with losses scattered across major issues and bonds weak in sympathy.
A brief market note reports current loan rates and exchange clearings with banks adjusting rates. It notes modest shifts in borrowing costs and the impact on business and consumer credit.
Indianapolis rates show commercial paper at 6 percent and time loans at 6 percent. New York call money at 6 1/2 percent with various currency and banking figures. London and Paris exchange rates noted. Treasury balance snapshot reports available cash of 850,102 and gold reserve of 95,?02,625 in the general fund.
Cattle receipts were light with steady prices in Indianapolis and nearby markets. Hog prices declined slightly early but finished steady. sheep and lamb demand remained solid with buyers active for quality stock.
A colored man on Geisendorff and Washington streets sat amid circusgoers with a red bandana head covering. He appeared ill and refused care from Dr. Schenck, who suspected smallpox and summoned the pesthouse ambulance. Three mild cases were found at a West Twenty-ninth Street home, including a mother Mrs Smith and her children Eva and the infant. the father was moved to the pest house and the residence placed under quarantine.
Chicago traders covered short positions as bullish government crop expectations and firm cables buoyed wheat corn and oats on May 12. July wheat closed fractionally higher while corn led gains before closing mixed as provisions moved differently. receipts and shipments showed substantial activity with market wary ahead of the government report.
New York on May 12 shows grain stocks for May 10 with wheat 35,302,000 bushels down 3,105,000, corn 5,697,000 down 46,000, oats 2,917,000 down 15,000, rye 1,346,000 down 265,000, and barley 813,000 down 180,000. Market notes state flour receipts and exports, firm rye, and a generally bullish tone for wheat with near term gains followed by slight declines as profits were taken.
A historic sugar price column lists multiple grades and container sizes with varied per pound costs. Prices include No. 6 at 4.16c and No. 11 at 3.15c. Other entries cover refined, granulated, powdered, and cube varieties with values ranging around 3 to 5 cents.
Commodity markets report mixed pricing across grains and meats with wheat, corn, oats and rye showing varied futures. Values in St Louis Baltimore Cincinnati and Kansas City reflect steady to higher bids on some grades while others drift, with pork and lard prices edging and receipts and shipments listed.
The report details butter cheese and egg trading from New York Philadelphia Baltimore Elgin Chicago and other markets. It notes steady to firm butter and cheese in several cities with varied prices and receipts. Some regions report mixed demand for eggs and turpentine and rosin markets also appear, along with sporadic metal and petroleum figures.
The May 1 1901 crop report shows winter wheat area at about 27,1000 acres, down 15.2 percent from the fall sowing estimate. Abandonment by states like Kansas and Texas reduces cultivated land. overall condition also weakest since 1885 with meager pasture and meadow land readings. The final grain report is due May 2 while spring plowing and weather delays persist in Illinois Missouri and Indiana.
In a literary pairing the narrator passes a figures through a cloudscape scene as a carriage emerges amid rain. The prose reflects a journalistic tone shaping a reflective, storm driven moment in a historical Boston setting.
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